Archive for 2017

Congressman Emanuel Cleaver, II Makes Inquiry Into Merchant Cash Advances

June 26, 2017
Article by:

Congressman Emanuel Cleaver, II

A US Congressman from the fifth district of Missouri is conducting an inquiry into “Fintech Lending,” according to a statement posted online. Rep. Emanuel Cleaver, II published letters that his office sent out last week to five companies seeking information on how they avoid discriminatory lending practices in small business lending. An excerpt: I have […]

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Amazon vs. Banks

June 23, 2017
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Amazon vs Banks

Amazon made headlines most recently for its blockbuster acquisition of Whole Foods, but the online behemoth already disrupted another sector – fintech — including banks and online lenders when in 2011 it started lending to small businesses. So far Amazon Lending has extended $3 billion-plus in capital to the small business community, a cool billion […]

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Recent Court Decisions Impacting Merchant Cash Advances – Still Not a Loan

June 22, 2017
Article by:

Courtroom

This article is from deBanked’s May/June 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE In the United States District Court, Southern District of New York, a judge expounded on his decision as to why the Purchase and Sale of Future Receivables contract between TVT Capital and Epazz, Inc. was not a loan. In […]

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Dubious Story On Strategic Funding Unfounded

June 22, 2017
Article by:

Strategic Funding Source office

A questionable story published by Allen Taylor of Lending Times pushed the boundaries of journalism earlier this week. Citing a single anonymous source, Taylor wrote that an alleged breakdown in negotiations between Strategic Funding Source (SFS) and CAN Capital (CAN) had compounded into more problems for SFS when a burst water main drenched their main […]

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Pearl Capital Secures $15M in Financing From Chatham Capital Management

June 21, 2017
Article by:

pearl capital

Pearl Capital Business Funding, LLC has closed on $15 million in financing from Atlanta-based Chatham Capital Management, according to the company. Pearl is a NY-based small business funder that was acquired in 2015 by Capital Z Partners, a private equity firm. “We understand that despite personal credit issues, many small business owners have triumphed in […]

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Alternative Lenders Spread Their Wings Internationally

June 20, 2017
Article by:

global business

This article is from deBanked’s May/June 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE As alternative lending gains global traction, a growing number of U.S-based alternative lenders are exploring international growth, with large companies like OnDeck, Kabbage and SoFi leading the way. Some alternative lenders have begun their expedition closer to home by […]

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Déjà Vu: Some Small Business Funders are Fading Away

June 20, 2017
Article by:

fading away

IT’S THE END OF DAYS!! Or is it? Apparently I’m old enough to see this happening all over again. A handful of big names in the alternative small business space are faltering and many of you have asked what this means for the industry. It really doesn’t mean anything other than those who do not […]

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US Treasury Calls for Section 1071 to Be Repealed

June 19, 2017
Article by:

Treasury Department

In a 149-page report prepared for President Trump, the US Treasury has called for the repeal of Section 1071 of Dodd-Frank. Section 1071 is the governing law behind the CFPB’s jump into small business lending data collection. Citing the cost of data collection and anemic small business loan growth since 2008, the Treasury says, “Although […]

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The ‘Loan’ Star State – Texas is an alternative finance nexus

June 15, 2017
Article by:

Austin, TX

This article is from deBanked’s May/June 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE We’re at Able Lending in Austin, Texas, a financial technology company occupying three floors deep in the heart of the Seaholm power plant overlooking Lady Bird Lake. The fortress-like building anchors an inner-city complex of offices and residences, chic […]

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Fintech Carries the Torch in Northern Delaware

June 14, 2017
Article by:

Rodney Square in Wilmington, DE

Glen Trudel, Partner, Ballard Spahr Delaware’s history in financial services is rich. The Financial Center Development Act of 1981, for instance, which rolled back the limits on how much lenders could charge as interest on consumer credit, attracted some of the biggest names in banking to the state over the past several decades. Now fintech […]

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